The Biedronka chain of stores was once associated with a discount for less demanding customers. This has changed, and the business of the Portuguese group Jeronimo Martins is appreciated, among others, by by stock investors.
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On the Lisbon Stock Exchange Jeronimo Martins shares break records of popularity and value. On Friday, for the first time in history, the quotations exceeded the round EUR 20. With such a valuation, the entire business can be estimated at nearly EUR 12.5 billion, i.e. almost PLN 58 billion.
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If the Portuguese partnership was listed on the Warsaw Stock Exchange, in the prestigious index of the twenty largest companies, it would be second only to the largest Polish bank. The capitalization of PKO BP has recently exceeded PLN 60 billion.
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See also: Marek Belka on Morawiecki. He was not beating around the bush
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The latest series of near-continuous gains in Jeronimo Martins stock began in late September, but the boom in the case of the owner of Biedronka has been going on for many years with short breaks. Since the beginning of this year, the quotation has increased by over 40%, and has doubled in almost 3 years.
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Hardly anyone else remembers how several years ago, Jeronimo Martins shares cost 1-2 euro.
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Good results of Biedronka
Stock investors welcomed, inter alia, the company’s recent results. According to a report published a few days ago, Jeronimo Martins recorded a sales increase of over 7% in the first nine months of this year. The group’s revenues have already exceeded EUR 15 billion. This translated into EUR 324 million in net profit. And that means almost 50% progress.
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Ladybug is not the only network controlled by the Portuguese, but it is the main source of income. Biedronka’s revenues after three quarters clearly exceeded EUR 10 billion, and this two-thirds of all Jeronimo Martins sales.
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Stock exchange players hope that with each year the business will generate more and more money. It has been successful so far.
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